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 Which Car Has The Best Residual Value? A New MINI

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mab01uk

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PostSubject: Which Car Has The Best Residual Value? A New MINI   26th April 2014, 00:23

A Glass’s Guide report has revealed that the cars with the best residual value in the UK are from MINI, with first year depreciation running at just 16.4 per cent.

When it comes to buying a car, many of us decide how much we can afford to spend and then go and look for a car that fits our budget. But what we should really be looking at is how the car we want will be worth in the future – its residual value. Glass’s study scrutinised cars at one, three, five and seven years old to obtain fair depreciation figures.

According to Glass’s, the MINI depreciated by as little as 16.4 per cent in its first year, the strongest residual values of any of the 34 car manufacturers Glass’s looked at, and even the options added by many buyers saw the residual values higher still.

Glass’s Andrew Jackson said:
"Considering that MINI operates within a classically high-RV-performing segment, combined with the desirable nature of the brand, meant that even for vehicles aged seven years, the percentage of cost new that can be expected from a MINI was appreciably more than any other brand."

So before you jump in to a new car based on its headline price, have a look at the total cost of ownership over the time you have the car – you’ll probably discover a ‘more expensive’ MINI will actually cost you less in the long term than a car with a lower headline price.

Read more:
Which car has the best residual value? A MINI



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PostSubject: Re: Which Car Has The Best Residual Value? A New MINI   14th May 2014, 22:19

Just worked out the depreciation on my 2005 R53 which was just over £25,000 in 2005.

So,

Year 1: 25,000
Year 2: 21,500
Year 3: 17,974
Year 4: 15,026
Year 5: 12,561
Year 6: 10,501
Year 7:  8,779
Year 8:  7,339
Year 9:  6,135

That's not that far out according to some of the dealer prices on Autotrader.

Mileage was 74,000. Not too high and not low.

I paid £4,000 (no warranty as it's come to France)

I'll have spent about £800 on new tyres, wheel refurb, oil and filters, oil switch, wiper blades, Mintex 1144 brake pads and a few other bits and pieces. I think that's good value for a car which will have been fully serviced and almost looks like new.
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PostSubject: Re: Which Car Has The Best Residual Value? A New MINI   14th May 2014, 22:46

Do remember though that those prices are based on cars fitted with NO options. And I can't think of one person who has a mini with no options.
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PostSubject: Re: Which Car Has The Best Residual Value? A New MINI   14th May 2014, 23:03

It's normal for Glasses and Cap to base values on the base price of the car. However when the factory options double the price of the car I don't think they can be ignored. It would give a 50% drop as it's driven away from the showroom.

Glasses is mainly based on mathematical residual values and Cap is mainly based on auction prices. One is used in the trade to buy and the other to sell.

When I was a franchise dealer, I found the price of the cars with options was about the same as those without but sold much quicker and for better prices.
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PostSubject: Re: Which Car Has The Best Residual Value? A New MINI   14th May 2014, 23:08

My experience on looking to trade is the dealers give the extras very little value to extras yet when they sell same car they hike the price up as well spec'd..

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PostSubject: Re: Which Car Has The Best Residual Value? A New MINI   15th May 2014, 13:47

My previous r53 had an options list approaching £25,000 and it was worth at most £1,000 more. I currently work in the motor trade and would agree that you cant charge much more, but they sell far better!
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PostSubject: Re: Which Car Has The Best Residual Value? A New MINI   15th May 2014, 14:13

Seems to be a lot of in the trade.
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